- Business Activity and Entrepreneurship: Business organizations produce goods and services to meet customer needs, make money, and create employment.
- The Role of Entrepreneurship: Entrepreneurs identify opportunities and take risks to start and grow a business, with the potential for great rewards.
- Business Planning Objectives: Business planning involves setting goals, targeting a specific market, and creating clear plans and aims to reduce risk and ensure success.
- Business Ownership: Unincorporated businesses have features like unlimited liability, while incorporated businesses have limited liability and the ability to raise funds through shares.
- Business Aims and Objectives: Businesses aim to achieve objectives like increasing profits, expanding customer base, or improving product quality based on their size and industry.
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